Industrial gas firm Messer to benefit from shift in China policies

20 May 2011 18:53  [Source: ICIS news]

LONDON (ICIS)--China’s move to shift its economy towards sustained and balanced growth should benefit industrial gases firm Messer, the Germany-based company said on Friday.

Messer Group said China’s 12th five-year plan would make the country’s economy more competitive internationally while reducing its dependence on export markets.

Messer has built up large capacities in China and the reorientation in Beijing’s economic policies could have sustained positive effects and drive further expansions, the company said.

Last year, Messer opened its sixth air separation plant in China.

Overall, privately-owned Messer achieved 14% year-on-year sales growth in 2010, to €909m ($1.3bn), with the company’s business in China making a significant contribution, it said.

Based near Frankfurt, Messer employs about 5,300 people worldwide.

($1 = €0.70)

Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections
Read Paul Hodges’ Chemicals and the Economy Blog

By: Stefan Baumgarten
+1 713 525 2653

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly